DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Is our current financial system the product of our tax laws?

**blackjackblax** · 01-28-2011, 11:16 AM

Questions.

Is our financial services often a product of our tax laws... like they wouldn't be needed if the choice wasn't between:
1. Paying some smart person 10+% (or profits?) to invest your money for you.
2. Paying the government ~30% to be able to do whatever you want with your money. People would be less likely to pay an additional amount to have someone else invest for them.

Isn't this distorting the savings/etc rate by encouraging people to invest in a pension/etc fund rather than buy a new boat or a new TV? It seems like this is just as distortionary as mortgages being a tax right off, if not more so.

JM

01-28-2011, 11:16 AM	#1
blackjackblax Join Date Oct 2005 Posts 538 Senior Member	Is our current financial system the product of our tax laws? Questions. Is our financial services often a product of our tax laws... like they wouldn't be needed if the choice wasn't between: 1. Paying some smart person 10+% (or profits?) to invest your money for you. 2. Paying the government ~30% to be able to do whatever you want with your money. People would be less likely to pay an additional amount to have someone else invest for them. Isn't this distorting the savings/etc rate by encouraging people to invest in a pension/etc fund rather than buy a new boat or a new TV? It seems like this is just as distortionary as mortgages being a tax right off, if not more so. JM
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